WorldCompliance and The Cherry Group Form Alliance to Help Fight Corruption in the CIS Region

MIAMI and NICOSIA, Cyprus, August 3, 2010 - WorldCompliance, the leader in Open Source Intelligence and The Cherry
Group, a leading provider of information security, anti-money laundering,
fraud prevention, regulatory compliance and risk management solutions,
announced a formal partnership to help organizations in the Commonwealth of
Independent States (CIS) region mitigate risk, improve compliance, and
prevent fraud.

Under the agreement, The Cherry Group will market WorldCompliance
solutions in the Ukraine, Belarus and Georgia. This underlines the response
to the various governments' efforts in the region to combat corruption. For
reference, the Government of Ukraine has made numerous efforts in recent
years to pass amendments to the AML Law so as to bring the legal framework
into compliance with the Financial Action Task force (FATF) requirements. In
May, the Ukrainian parliament adopted amendments to the Law of Ukraine on
Prevention and Counteraction to Legalization (Laundering) of the Proceeds
from Crime and Terrorist Financing.

The FATF, in its 2008 annual report named the Ukraine as one of the
jurisdictions that have undertaken to implement the FATF's 40+9
recommendations. The Ukrainian parliament reintroduced a draft law that would
make amendments to the AML Law in order to broaden the types of entities and
professionals which are subject to financial monitoring to include lawyers,
law firms, real estate companies, auditors, notaries, traders in precious
metals, postal money transfer offices, lotteries, and consulting companies
among others. The law also imposes an obligation to report transactions that
could be used for terrorist financing.

"Our alliance is a critical step in providing best-in-class solutions to
financial institutions in the CIS region at a time when organizations are
held to higher standards for Anti-Corruption, AML and fraud prevention
regulations," said Dirk Mohrmann, CEO of WorldCompliance. "The combination of
our experience, product know-how and first-to-market innovation provides a
leading edge in helping mitigate organizations risk," Dirk added.

"We deliver proven solutions from the world's leading information
security and compliance vendors to financial institutions across the CIS
region," said Morten Kriek, General Director of The Cherry Group. "When the
new legislation was adopted in Ukraine, there was little doubt as to who the
most suitable partner would be to assist our clients in complying with new
regulatory requirements," Morten added.

About The Cherry Group

The Cherry Group offers superior services and software solutions in
anti-money laundering (AML), information security and fraud prevention
through partnerships with real industry leaders and experts in their
respective domains. Amongst our clients are regulators, central banks and
some of the largest financial institutions in the Commonwealth of Independent
States. Apart from state-of-the-art software solutions, we offer consulting,
implementation and project management services with a team of certified
professionals.

About WorldCompliance

WorldCompliance offers the highest level of protection from individuals
and organizations that may represent a risk to your organization's finances
and reputation. Our solutions protect over 2000 clients in over 100 countries
and are used to identify entities linked to over twenty risk categories
including terrorism, narcotics, money laundering, fraud, collateral crimes,
politically exposed persons, foreign officials and state owned enterprises.

www.worldcompliance.com

Lee Moran, Global Marketing Executive, WorldCompliance, +1-877-258-1877 Ext: 263, leem at worldcompliance.com, or Olena Pavlova, Director - Head of Strategic Partnerships, The Cherry Group, +357-22-022672, opavlova at cherrygroupcis.com